Health insurers willing to give up a key ACA provision
Great article about new changes to the ACA from BenefitsPro by Zachary Tracer
U.S. health insurers signaled Tuesday that they’re willing to give up a cornerstone provision of Obamacare that requires all Americans to have insurance, replacing it with a different set of incentives less loathed by Republicans who have promised to repeal the law.
Known as the “individual mandate,” the rule was a major priority for the insurance industry when the Affordable Care Act was legislated, and also became a focal point of opposition for Republicans.
In a position paper released Tuesday -- the first since President-elect Donald Trump’s victory -- health insurers laid out changes they’d be willing to accept.
“Replacing the individual mandate with strong, effective incentives, such as late enrollment penalties and waiting periods, can help expand coverage and lower costs for everyone,” AHIP said.
That also includes openness to Republican ideas such as an expanded role for health-savings accounts and using so-called high-risk pools to cover sick people.
In return, insurers are asking Republicans to create strong incentives to buy insurance, and to ensure the government continues to make good on payments it owes insurers under the ACA. The paper was released by America’s Health Insurance Plans, or AHIP, the main lobby for the industry.
“Millions of Americans depend on their current care and coverage,” AHIP said in the document outlining its positions. The group called on lawmakers to “ensure that people’s coverage -- and lives -- are not disrupted.”
Republican replacement
Now that they’re set to gain control of the White House, Republican lawmakers are working to define their vision for replacing the law after years of attempts to repeal it. Obamacare brought insurance coverage to about 20 million people via an expansion of Medicaid and new insurance markets, and repealing the law without a replacement would leave those individuals without coverage.
Trump has said that repealing and then replacing the law will be one of his first priorities. Republicans in Congress, however, have signaled that they’ll need time to write a replacement -- potentially via a years-long delay between passing a repeal and implementing it -- to craft a replacement.
And AHIP on Thursday said insurers will need at least 18 months to create new products and get them approved by state regulators, if Republicans change the market. It could take even more time to educate consumers and change state laws, AHIP said.
“It’s taken six years to get where we are now and to demonstrate the failure of Obamacare, so it’s going to take us a little while to fix it,” said Senator John Cornyn of Texas, a member of the Republican leadership in the chamber.
Medicaid changes
Republicans may also make substantial changes to Medicaid, by turning the joint state-federal program into one where the U.S. sends “block grants” to the states, which exert more control. Vice President-elect Mike Pence said on CNN Tuesday that the Trump administration will “develop a plan to block-grant Medicaid back to the states” so they can reform the program. Some Medicaid programs are administered in part by private insurers.
AHIP said any such plans should ensure that payments are adequate to meet the health needs of individuals in Medicaid coverage. And they should ensure that when enrollment increases in an economic downturn, funds are available to help states deal with the increased demand, AHIP said.
AHIP is open to working with Congress on replacement plans for the ACA, said Kristine Grow, a spokeswoman for the lobby group. The document is the first detailed look at AHIP’s priorities.
Big insurers like UnitedHealth Group Inc. and Aetna Inc. are already scaling back from the ACA’s markets, because they’re losing money. At the same time, remaining insurers are boosting premiums by more than 20 percent on average for next year.
Trump’s election increased the level of uncertainty in the market, and a repeal bill without something to replace the law could destabilize it further. To shore up insurance markets, AHIP says lawmakers should fund a program, known as reinsurance, designed to help insurers with high costs, through the end of 2018, and avoid cutting off cost-sharing subsidies for low-income individuals.
See the original article Here.
Source:
Tracer Z.(2016 December 7). Health insurers willing to give up a key ACA provision[Web blog post]. Retrieved from address https://www.benefitspro.com/2016/12/07/health-insurers-willing-to-give-up-a-key-aca-provi?ref=mostpopular&page_all=1
3 ways to help employees with retirement planning
by Marlene Satter
Lack of confidence, lack of knowledge and lack of money all plague workers trying to save for retirement, leaving them working longer than they planned and saving considerably less than they need.
But a series of surveys from TIAA has identified three ways that plan sponsors can help to improve retirement outcomes for their employees.
Employees want income for life, for instance, with 49 percent saying that their retirement plan’s top goal should be providing guaranteed monthly income in retirement.
And although it’s something they badly want, 41 percent are unsure if their current plan has that as an option.
1. Employees need help figuring how much retirement income they'll need and how to translate savings into income - Plan sponsors can help with this, said the data, by helping employees be realistic about how much income they’ll need in retirement—something few have figured out.
While 63 percent of Americans who are not retired estimate that they’ll need less than 75 percent of their current income to live comfortably, most experts recommend replacing 70–100 percent of current income in retirement.
Compounding the situation is the fact that 53 percent of employees haven’t even figured out how to translate their savings into income—while 41 percent of people who haven’t yet retired are saving less (many considerably less) than the 10–15 percent of income experts recommend.
Lifetime income options such as annuities are one way to guarantee income replacement during retirement, but most people are unaware of them or of how they work. Just 10 percent of Americans have annuities, so for the other 90 percent, they’re not an option.
2. Employees are interested in receiving financial advice - Sponsors can also offer financial advice as part of a benefits package.
While 61 percent of those who have received advice feel confident about their financial situation, just 37 percent of people who haven’t feel that way.
But the cost—or perceived cost—of seeking advice is putting them off, as is distrust of advisors in general.
Although 71 percent of Americans say they’re interested in receiving advice, more than half haven’t.
For instance, 35 percent of Americans who have not worked with a professional financial advisor say they don’t think they have enough money to justify a meeting; 51 percent say they don’t have enough money to invest (49 percent believe they need more than $50,000 in savings to get an advisor to talk with them), while 45 percent have concerns about cost and affordability.
And 34 percent don’t know whom they can trust.
3. Employees can use tools and resources early and in all stages of retirement planning - Last but not least, the study found that getting involved early in the planning process can make a difference.
Sponsors who introduce resources for all stages of the financial planning process, with customizable planning tools and tailored support based on employees’ life stages, can help employees consider what they need to do to prepare for retirement, even if that day is years away.
Such tools can make it easier for employees to evaluate their personal risk tolerance, asset allocation and the current status of Social Security and Medicare to help them better envision their future retirement and the steps they can take to make sure that their retirement is successful
See the original article Here.
Source:
Satter M.(2016 December 8). 3 ways to help employees with retirement planning[Web blog post]. Retrieved from address https://www.benefitspro.com/2016/12/08/3-ways-to-help-employees-with-retirement-planning?ref=hp-news
16 building blocks that bolster employee engagement
Need a strategy for improving engagement from your employees? Check out this great read by Lauren Stead
Do you know what sets your company apart from the rest for job seekers? Is it your recent accomplishments? How about your Fitness Fridays or Casual Mondays? Or is it the opportunities you provide for employees to grow throughout your firm and take their careers to the next level?
The chances are it’s all of these things, which collaboratively come together to build up your culture. Today, culture is what sells your company above, as innovation is no longer a reliable way to set yourself apart from your competition. What makes for a great culture is great people, engaged in their company.
So how can you get ahead and stay ahead in this current market? How, exactly, do you build up your culture so employees stay more engaged?
Rusty Lindquist, VP of human capital management strategy for BambooHR, recently spearheaded a panel at the virtual HR conference Elevate 2016. His presentation focused on 16 components that are key improving employee engagement efforts. He said when your current workforce is engaged, they’ll be the ones who help sell the company to others and help it grow.
Lindquist’s breakdown to getting your employees more engaged included these steps:
- Objective – knowing where you’re going and why you should care about it.
People need to know where they’re going. Otherwise, they’ll be aimless and lack motivation to keep going forward, simply spinning their wheels in place. Rusty explained that if you were just set at the top of a mountain and left to roam, you would accomplish far less than the person who’s put at the base and has the summit pointed out to them as the goal. Make sure managers are sharing what the company’s mission and objectives are with their teams, to keep everyone working toward that summit. - Alignment – capability to do work and succeed at it.
Managers need to find the sweet spot between the three factors that make up an employee’s alignment: competency, opportunity, and passion. In other words, an employee needs to actually be able to do what’s set before them, have the chance to move forward afterward, and enjoy what she’s doing. If something is off with these three factors, chances are the employee will be under-performing. - Plan – knowing what the next step is or how to move forward on your career path.
People need to know what to do next and have a clear visualization of a path they can follow. They can be sold on their objective and feel comfortable in the company, but managers need to make sure there’s no confusion on how to achieve that objective. Break down future goals into achievable steps. - Space – having what you need to move forward.
Get out of employees’ way so they can create and accomplish personal goals. Space can mean having autonomy, ownership, permission, trust, influence, or just the right tools. - Contribution – getting things done and feeling like you’re making a difference.
People need to feel that what they’re doing is making a difference. The moment someone feels that they don’t matter, they begin to under-perform. If someone isn’t contributing, it’s a good time to evaluate the other engagement elements to see if something is out of alignment. - Score – keeping score of your contributive value.
Progress and impact need to be measured in some way. If a sense of progress is removed, people tend to contribute less value overall. Rusty compared it to playing a game with yourself. There’s no sense of accomplishment or context if you’re just racking up points by yourself. - Momentum – having a sense of moving forward and inevitability.
Momentum may drop when a project is completed or canceled. Before a new project starts up to take the old’s place, there’s a window where there’s no momentum. While periodic breaks are good, make sure managers are keeping employees focused on the overall summit. - Investment – feeling like you have skin in the game.
This is a factor you can notice outside of the workplace. For example, consider a stamp incentive program at coffee shops. Each time you visit, you’re given a stamp and when you achieve a certain number you’re given a reward. These types of programs instill in you a sense of investment, that you’ve potentially lost out on if you quit now. This is the same sort of feeling employees need to feel from their managers. - Growth – feeling like you’re gaining mastery, progressing personally or professionally.
Everyone likes the idea that they’re getting better at what they do. When careers stagnate, people begin to stall and lose interest in moving forward. Have managers challenge employees so they feel like they’re growing by providing them opportunities to improve personally and professionally. - Meaning – finding fulfillment and purpose in what you do.
Connect people to the work they’re doing through a story. This isn’t necessarily done through the company’s objective or mission statement, and it should be more personal. Managers need to identify what matters to their team, and then connect that meaning to their work through a narrative or story. - Value – feeling appreciated and adequately rewarded for your efforts.
Value isn’t completely tied up in compensation, since more compensation doesn’t always directly improve someone’s engagement. It also relies on rewards and recognition. Managers need to find ways to give people all three. - Identity – knowing who you are, what you’re capable of, and believing in yourself.
This building block relies on the theory of functional fixedness, the idea that people rely on their past successes to inform their next actions. If something has worked in the past, why not continue doing it? Managers need to push employees to think outside the box, consistently innovating new solutions to old problems. - Leadership – having someone who believes in, challenges, and shows you the way.
Every workplace, in some fashion, has a leader who is capable of showing people the way. Most times, these leaders are the ones who can self-diagnose and critique themselves. These employees aren’t necessarily managers or in executive-level positions, but they are the ones people lean on when they need a guiding light. Give these people a platform. - Relationship – having connections with people you care about.
When people are invested in each other, they have a sense that they don’t want to let their team down. Even when things with the company are bad, people will tough it out because they want to stay for the people they’ve built up relationships with. Foster those relationships. - Environment – having surroundings that support and enable your efforts.
If people are living in a bad environment, their behaviors will reflect their surrounding negativity. This was evident in New York’s broken windows theory. The city had high amounts of crime. Some people wanted to bolster the criminal and justice system, and crack down on that crime. A new mayor instead invested in beautifying the environment, cleaning up the city and fixing broken windows. Amazingly, the crime was reduced in those areas. Be aware of your company’s environment and how it impacts employees. - Renewal – finding restoration through balance and moderation.
Finally, this block of engagement is important for every employee. There may be a time when a great worker becomes disengaged and feels burned out. A short break or new challenging project may be in order to rouse spirits once more.
See the original article Here.
Source:
Stead L. (2016 November 30). 16 building blocks that bolster employee engagement[Web blog post]. Retrieved from address https://www.hrmorning.com/16-building-blocks-that-bolster-employee-engagement/
DOJ to appeal overtime ruling
Great article from BenefitsPro by Jack Craver
The Obama administration is not giving up on its overtime rule just yet.
The Department of Justice is appealing an injunction placed on the rule by a federal judge, which prevented the rule from going into effect on Dec. 1, as planned. The injunction came in response to a suit challenging the rule by 21 states, led by Texas and Nevada.
"That injunction was granted to some large businesses and Republican governors who had colluded to try to disrupt the implementation of this rule,” says White House spokesman Josh Earnest, according to NPR. “And essentially continue to take advantage of more than 4 million of the hardest-working Americans."
Judge Amos Mazzant of the U.S District Court for the Eastern District of Texas ordered an injunction after deciding that the challenge to the rule was likely to succeed in a trial.
The Department of Labor exceeded its authority by raising the salary threshold for a worker to be exempt from mandatory overtime pay from $23,660 to $47,476, Mazzant writes.
The ruling suggested that federal overtime law only allows the agency to determine overtime eligibility based on job duties, not salary, Mazzant writes. The ruling thus casts into doubt the existing salary threshold as well.
If the legal battle drags on, it is unlikely that the incoming Trump administration will continue fighting on behalf of the rule in court. In the one instance in which the president-elect commented on the issue during the campaign, he said that he would like to see an exemption from the rule for small businesses.
If Trump did reverse course on the issue, it would be a great disappointment to the Republican attorneys general who brought the suit. In a statement following the announcement of the injunction, Texas Attorney General Ken Paxton, who led the suit, said that the new rule “hurts American workers."
Congressional Republicans also denounced the rule when the Obama administration announced the final version in May. House Speaker Paul Ryan called it “an absolute disaster.”
See the original article Here.
Source:
Craver J.(2016 December 2). DOJ to appeal overtime ruling[Web blog post]. Retrieved from address https://www.benefitspro.com/2016/12/02/doj-to-appeal-overtime-ruling
Workplace Wisdom: 4 True Tales and Tips for HR and Managers
From the Society For Human Resources Management (SHRM), by Christina Folz
Like priests and therapists, employment attorneys will hear just about everything over the course of their careers. They are privy to all manner of human tragedy, triumph—and stupidity. The best of them will turn their knowledge and experience into something deeper: wisdom.
That's what attorney Jathan Janove, who has more than 25 years of experience litigating workplace issues and consulting for companies, has done in his unconventional new management book, Hard-Won Wisdom: True Stories from the Management Trenches (Amacom, 2016). The book is refreshingly free of motivational platitudes and vague advice and instead imparts practical wisdom to managers and HR professionals through unforgettable stories of living, breathing—and highly flawed—people.
True Tale #1: Phil was a well-intentioned director of finance who did everything right in communicating his expectations and feedback to his direct report, a staff accountant named Melinda, except for one thing: He didn't listen to what she had to say.
Lesson Learned: Keep track of your "period-to-question-mark" ratio when conversing with employees. If it starts to skew heavily toward statements, make a point of inserting more questions. Also follow the "EAR" method of listening by exploring issues through open-ended questions, acknowledging that you understand and responding to what you learn.
True Tale #2: And then there's the story of Texas Wes, the oil company executive who was great at sharing constructive feedback but who never wanted to document it. ("Ah hate to write," he told Janove.)
Lesson Learned: To improve in this area, Wes borrowed a tip from attorneys who regularly use "opposing counsel confirmation letters"—bulleted summaries of important discussions that can be compiled quickly and easily based on prepared templates. They typically start with "This note summarizes our conversation from this morning" and end with "Please let me know if I haven't captured the information accurately."
True Tale #3: No one will forget Shameless Sheila, the waitress who was fired after stripping down to her underwear in full view of the restaurant's customers. Her boss had confronted her about not being in uniform in time to start her shift, so she changed clothes on the spot. Yet, unbelievably, Sheila wound up getting a settlement from the company because she was able to demonstrate that the restaurant culture constituted a hostile, sexually charged environment.
Lesson Learned: Company leaders made the common mistake of thinking that no harassment complaints meant no problems. Had they paid more attention to the culture in which Sheila had been working, they might have avoided making a settlement payout for an otherwise-appropriate termination.
True Tale #4: While many of Janove's stories are funny, others are sad reminders that workplace reality rarely matches up with the ideal environments described in culture statements or employee handbooks. For example, Janet, a vice president of HR for a large corporation, was inappropriately propositioned by William, a senior operations director at her company, on a business trip. The conversation started with William asking her whether she still had sex with her husband and went downhill quickly. Yet this revelation came to light only after William had voluntarily departed the company, when Janove was counseling Janet in preparation for an anti-harassment training that he was helping her implement.
Lesson Learned: Even knowledge of HR and the law aren't always enough to overcome an employee's reluctance to act on her own behalf for fear of being ostracized or blamed. Janet's experience emphasizes the critical importance of making sure a company's approach to harassment goes beyond annual training to working daily to institute a culture in which everyone, including those in HR, feels completely safe coming forward.
See the original article Here.
Source:
Folz, C. (2016 Novemeber 14). Workplace wisdom: 4 true tales and tips for hr and managers[Web blog post]. Retrieved from address https://blog.shrm.org/blog/workplace-wisdom-4-true-tales-and-tips-for-hr-and-managers
Family caregivers pay hefty price to care for loved ones
An exciting article about family caregivers from Benefits Pro by Marlene Y. Satter
It’s not just the late hours, the extra work or the emotional strain. Family caregivers are paying a big price to take care of loved ones who can’t adequately care for themselves, and part of the cost could be their retirement.
According to a new report from AARP, 78 percent of caregivers are incurring out-of-pocket costs as a result of caregiving. The 2016 report “Family Caregivers Cost Survey: What They Spend and What They Sacrifice” estimates that on average, family caregivers are spending roughly $7,000 per year ($6,954) on out-of-pocket costs related to caregiving in 2016.
If that statistic isn’t depressing enough, the report’s financial strain measure, consisting of annual caregiver expense divided by their annual income, shows that caregivers are spending, on average, nearly 20 percent of their income on caregiving activities.
Considering that, it should come as no surprise that many family caregivers have to cut back on other spending, “which can undermine the family caregiver’s future financial security,” the study said.
Sixteen percent have reduced contributions to their retirement savings, and approximately half have cut back on leisure spending (45 percent said they’ve cut down on eating out or vacations because of caregiving expenses).
So where and how are they spending this money?
Household expenses account for the lion’s share of family caregivers’ out-of-pocket spending, eating up 41 percent of it.
This can encompass everything from rent/mortgage payments to home modifications and other household expenses.
Medical expenses make up the second largest chunk, eating up 25 percent of caregivers’ spending on such items as assisted living or skilled nursing facilities, insurance costs and other medical expenses.
And while long-distance caregivers (defined as family caregivers living more than one hour from the care recipient) paid the highest out-of-pocket costs ($11,923), it was no bargain for caregivers living with their care recipient, who also incurred high costs ($8,616).
And if the recipient is older (more than 50 years old) or has dementia, their caregiver will be paying more, too: costs of $7,064 for a recipient older than 50, compared with $5,721 for one younger than the half-century mark, and costs of $10,697 for a recipient with dementia, compared with costs of $5,758 for adults who do not have dementia.
See the original article Here.
Source:
Satter, M. (2016 November 14). Family caregivers pay hefty price to care for loved ones [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/11/14/family-caregivers-pay-hefty-price-to-care-for-love?ref=hp-top-stories
Concerned About Losing Your Marketplace Plan? ACA Repeal May Take Awhile
Worried about your healthcare plan? Check out this interesting article from Kaiser Health News, by Michelle Andrews
President-elect Donald Trump has promised that he’ll ask Congress to repeal the Affordable Care Act on Day One of his administration. If you’re shopping for coverage on the health insurance marketplace, should you even bother signing up? If everything’s going to change shortly after your new coverage starts in January anyway, what’s the point?
While it’s impossible to know exactly what changes are coming to the individual market and how soon they’ll arrive, one thing is virtually certain: Nothing will happen immediately. Here are answers to questions you may have.
Q. How soon after Trump takes office could my marketplace coverage change?
It’s unlikely that much, if anything, will change in 2017.
“It’s a complex process to alter a law as complicated as the ACA,” said Sara Rosenbaum, a professor of health law and policy at George Washington University. It seems unlikely that congressional Republicans could force through a repeal of the law since Democrats have enough votes to sustain a filibuster blocking that move. So Congress might opt to use a budget procedure, called “reconciliation,” that allows revenue-related changes, such as eliminating the premium tax credits, with simple majority votes. Yet even that process could take months.
And it wouldn’t address the other parts of the health law that reformed the insurance market, such as the prohibition on denying people coverage if they’re sick. How some of those provisions of the law will be affected is still quite unclear.
“It will likely be January 2019 before any new program would be completely in place,” said Robert Laszewski, a health care industry consultant and long-time critic of the law.
The current open enrollment period runs through January 2017. Shop for a plan, use it and don’t focus on what Congress may do several months from now, Rosenbaum advised.
Q. Will my subsidy end next year if the new administration repeals or changes the health law?
Probably not. Mike Pence, the vice president-elect, said on the campaign trail that any changes will allow time for consumers receiving premium subsidies to adjust.
Timothy Jost, an emeritus professor at Washington and Lee University School of Law in Virginia who is an expert on the health law, also predicts a reasonable transition period.
Congress and the new administration are “not eager to have a bunch of angry, uninsured voters,” Jost said.
Theoretical conversations about changing the health law are one thing, but “I think that Congress may be less willing to just wipe the subsidies out if a lot of people are using them,” Rosenbaum said. More than 9 million people receive subsidies on the marketplace, according to the federal Department of Health and Human Services.
Q. Can my insurer drop out once the new administration takes over, even if the law hasn’t been repealed?
No, insurers are generally locked in contractually for 2017, according to experts. But 2018 could be a whole different story, said Laszewski.
Many insurers are already losing money on their marketplace offerings. If they know that the health insurance marketplaces are being eliminated and replaced by something else in 2019, why would they stick with a sinking ship?
“The Trump administration could be left with a situation where Obamacare is still alive, the subsidies are still alive, but not the insurers,” said Laszewski. To prevent that, the Trump administration might have to subsidize insurers’ losses during a 2018 transition year, he said.
Q. My state expanded Medicaid to adults with incomes up to 138 percent of the federal poverty level (about $16,000). Is that going to end if Obamacare is repealed?
It may. Trump has advocated giving block grants to finance the entire Medicaid program on the theory that it provides an incentive for states to make their programs more cost-effective. But that strategy could threaten the coverage of millions of Americans if the block grants don’t keep pace with costs, Jost said.
So far, 31 states and the District of Columbia have expanded Medicaid under the health law. Republican governors in these states may play a key role in arguing against taking the expansion money away, Rosenbaum said.
Q. I have a heart condition. Does this mean I’m going to have a hard time finding coverage?
It’s possible. The health law prohibits insurers from turning people away because they’re sick and may be expensive to insure.
Republicans have generally promised to maintain that guaranteed insurability, but what that would look like is unclear. Some of their plans would require people to remain continuously insured in order to maintain that guarantee, said Laszewski.
“I would advise people who are sick to get good coverage now and hang onto it,” said Jost.
Q. Since Republicans have pledged to repeal the law, can I ignore the law’s requirement that I have health insurance?
The individual mandate, as it’s called, is one of the least popular elements of Obamacare. As long as it’s the law, you should follow it, experts said.
Insurers have argued that the requirement that they take all comers who apply for health insurance only works if there’s a coverage mandate or other mechanism that strongly encourages people to have insurance. Otherwise why would they bother unless they were sick?
For the past few years, Republicans have been pushing hard to eliminate the mandate, Laszewski noted.
“One of the easy things they could do is just not enforce it,” he said.
See the original article Here.
Source:
Andrews, M. (2016 November 10). Concerned about losing your marketplace plan? ACA repeal may take awhile [Web blog post]. Retrieved from address https://khn.org/news/concerned-about-losing-your-marketplace-plan-aca-repeal-may-take-awhile/
Employer health plans could suffer in ACA repeal
From BenefitsPro by Marlene Satter
Although Congress may feel as if it has the bit in its teeth on repealing the Affordable Care Act, some experts are warning that it might not be all that easy—or even beneficial—particularly for employer-sponsored health plans.
In a Bloomberg report, Greta E. Cowart, a shareholder at Dallas-based Winstead PC, warned that an ACA repeal or major overhaul might put employers in the crosshairs; they could end up having to return money they previously received from the federal government for some initiatives, such as the early retiree reinsurance program, which provided financial assistance to employer-sponsored health plans.
In addition, Cowart said in the report that many of the mandates on what should be included in employer-sponsored health plans that were neither exempted nor grandfathered in will be hard to take out of employers’ plans, because employees would see that as a benefit reduction. And that, of course, would not make the employer look good.
In its report on the matter, HRDive.com warned employers to “keep an eye on” HHS secretary nominee Tom Price, a determined opponent of the ACA. His “empowering patients first” plan calls for complete repeal of the ACA—and that could lead to just such problems for businesses’ health plans.
Employers who have been calling for the repeal of the ACA might want to rethink their strategy, particularly since it could not only cost them money in the form of give-backs but also cost them employee loyalty if they take away health plan features once they’re no longer mandated by the ACA.
HRDive suggested that “employers should be prepared for all outcomes,” and perhaps consider offering their employees high-deductible health plans or health savings plans as cost-saving measures.
In addition, tracking prescription drug prices could help them keep an eye on costs.
See the original article Here.
Source:
Satter M. (2016 December 1). Employer health plans could suffer in ACA repeal[Web blog post]. Retrieved from address https://www.benefitspro.com/2016/12/01/employer-health-plans-could-suffer-in-aca-repeal?ref=mostpopula
The Evolving HR Leader
Article from the Society For Human Resource Management (SHRM), by Steve Watson
Leadership dynamics in Corporate America are undergoing major changes, and if todays’ leaders want to impact organizations tomorrow, they must adapt strategies, recognize and accept change, and boldly move forward with a new leadership style.
Among the forces influencing leadership changes:
Technology. We already know that technology has revolutionized work and enabled new ways of doing things. It has given rise to widespread global connectivity, provided instant access to data and information, from anywhere, anytime, and has led to the creation of collaboration tools, giving new competitors lower barriers to enter the competitive marketplace.
Organizational design. Mid-management layers have been eliminated so top management today is closer to individual contributors. Leaders must evolve with four different generations in the workforce with real diversity, multiple and different motivations, and mixed demographics. This brings challenges in attracting, developing, and retaining talent.
Further, some leadership practices have become, or on their way to becoming, obsolete, including:
- Top down management
- Doing it my way or the company way; being directive and controlling
- Rigid management/micromanaging
- Decisions made only at the top
- Defined work with individual work units
- More time in the office and in inner circles
- Expected loyalty
- Annual performance reviews and raises
A little over a decade ago, we didn’t have smartphones, Facebook, Chatter, Twitter, Snapchat, Instagram, and other social media that have significantly altered the way people connect, communicate, and build relationships.
Leadership today must change and evolve with the times, and this means being able to relate to younger generations. Millennials, with numbers at around 86 million, now represent the largest generation in the workforce. Consider the following vis-à-vis Millennials and employers:
1. They are far less loyal to an employer than generations before them have been. No psychological contract exists between them and their employer. They have a different way of viewing work, and it includes incorporate other activities into their time (travel, leisure time, and community service, for example) that might have otherwise been reserved for “usual” work hours.
2. They are team- and group-oriented. Their work style is collaborative.
3. They want to hear from senior management via feedback, open communication, and recognition.
4. They want even more flexible hours and greater work–life balance.
5. They are creative and inquisitive. Knowing “why” is important to this generation. They are unafraid to challenge ideas, methods, processes, and the status quo.
6. They want to improve and grow professionally through training and mentoring.
7. They are service-oriented, care about the environment, and rely heavily on social media.
8. They want to make a difference in the world.
At the core of all of these changes is technology. It allows people to work remotely, collect information immediately, collaborate effectively, and gain access to global markets and information. Employees also can seek out new job functions, making talent retention more challenging today than ever before. So a workforce with technology at their fingertips presents daunting challenges for today’s leaders. In this world, it’s change or die.
Successful evolved leaders constantly adapt to the changing times. They tend to:
- Be strategic thinkers
- Lead by example and build relationships
- Communicate the mission, vision, and goals clearly
- Build high-performing teams
- Serve as a coach and mentor
- Be servant leaders
- Look for ways to knock down barriers
- Set ego aside
- Be collaborative
- Listen with empathy
- Get input from diverse views, gain consensus, and get alignment
- Embrace diversity
- Be flexible and agile (and can deal with ambiguity)
- Have exceptional communication skills
- Be accepting of failure (and uses it as an opportunity to learn)
- Move the needle, drives results, and gets things done
- Exhibit resilience
Evolved leaders are front-and-center and welcome scrutiny from both employees and the public. They understand the need to leverage technological tools and harness cross-generational work styles, and they are astutely aware of the importance and influence of social networks.
See the original article Here.
Source:
Watson, S. (2016 November 14 ). The evolving hr leader [Web blog post]. Retrieved from address https://blog.shrm.org/blog/the-evolving-hr-leader
Employee Communications When Emotions Run High: Five Steps to a Successful Message
Check out this great read from The Society of Human Resources (SHRM), by SHRM Staff
Ultimately, leaders must understand their organization’s culture to determine the most appropriate employee message, or whether a message is necessary at all. In the case of the election results, however, we cannot deny that a change has occurred and for some employees that change was not what they were expecting.
As with any major change an organization and its people go through, it’s important for leadership to create an environment where open, transparent and constructive dialogue is encouraged within the workplace. Pretending like nothing has happened or that people aren’t feeling directly affected does a disservice to your people and ultimately your organization. Here are 5 ways to communicate with your employees when emotions run high.
1. Reinforce your Company Values
When crafting a message to employees, you will find the most success if you use this as an opportunity to reinforce the values of your company. One of our values at SHRM is, “Our People Matter” and so, for us, it’s important that our employees feel supported and heard. Acknowledging their feelings will go a long way in establishing trust in the organization.
2. Double Down on Benefits
Employers can also use this as an opportunity to highlight some of the company’s benefits offerings. Direct employees to their company Employee Assistance Program for resources that might be available to them. Many EAP programs offer stress management and personal wellness tools that employees can take advantage of during this time.
3. Offer Support
There are a range of activities – some of which can be tied to a wellness campaign – that an organization can do to assist employees:
- Bring in a massage therapist and offer de-stressing hand and foot massages to help employees unwind
- Bring in a yoga instructor or offer meditation resources
- Offer donuts or other snacks and create safe space zones around the workplace where employees can congregate and have discussions.
4. Open Lines of Communication
If a company does send a message to employees, it is important to reinforce the importance of person-to-person communication. At a time when tensions are high, internal social media platforms may not be the best place for employee dialogue.
5. Manage with Empathy
Most important, it is crucial that people managers recognize the signs of stress in their employees and approach them with compassion and empathy in the coming days and weeks. We do not always know what people are going through or dealing with outside of the office. Supervisors should work with their HR department to know what resources are available for employees, but they should also just be there as a supportive listener.
Finally, whether post-election communication comes from HR, executive leadership, a communications department – or if ultimately the decision is made not to send any message at all – this is a good time to take a closer look at your employee culture, reinforce your values, highlight your benefits and wellness offerings and show employees that they are supported, valued and heard. In the end, the most important lesson, and perhaps what your employees will value the most, is simply showing that you care.
See the original article Here.
Source:
SHRM Staff (2016 November 12). Employee communications when emotions run high: five steps to a successful message[Web blog post]. Retrieved from address https://blog.shrm.org/blog/employee-communications-when-emotions-run-high-five-steps-to-a-successful-m